Warren Buffett's Berkshire Hathaway once again increased its stakes in five Japanese trading houses, and Jefferies said watch out for more such buying from the "Oracle of Omaha." The Omaha-based conglomerate on Monday said its wholly-owned subsidiary National Indemnity Company had hiked its bets in Itochu , Marubeni , Mitsubishi , Mitsui and Sumitomo to more than 8.5%.
The 92-year-old Buffett paid a visit to Japan and met with the heads at these Japanese firms earlier this year. Like Berkshire, the Japanese trading firms, also known as sogo shosha, are conglomerates that are involved in a wide range of products and services, including energy, machinery, chemicals, food, finance and banking. Berkshire said it intends the Japanese investments as long-term positions, but Buffett pledged that he will will only purchase a maximum of 9.
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